Pepe Coin

Pepe

PEPE

Pepe Coin finally makes a breakthrough with rising 12% in the last 24 hours after facing a big decline earlier this month. This frog meme coin had its prime in May, setting an all-time high target of $0.00001718 before declining to a low of $0.00001168 just a few days ago. At the time of writing, the <a href="https://coingape.com/price/pepe-coin/" rel="noopener noreferrer nofollow">PEPE price</a> is $0.00001355 with a market capitalization of $5.7B.
<a rel="noopener noreferrer nofollow" href="https://coinmarketcap.com/currencies/pepe/"><img decoding="async" src="https://coingape.com/wp-content/uploads/2024/06/image-2024-06-12T205928.916.png" alt="PEPE Price Analysis" width="672" height="350"></a>
However, it is nothing new for Pepe Coin as similar declines have made their way into this meme coin chart, but the recovery was far more worthwhile. The prime example of this is the incident of last year, where the PEPE price declined to a low after setting that year’s all-time high target of $0.00000378. A similar has happened this year, making PEPE the second biggest crypto,<a href="https://coingape.com/trending/10-top-cryptos-which-outperformed-bitcoin-this-year/" rel="noopener noreferrer nofollow"> outperforming Bitcoin</a> with 975.65% in YTD.
<h2 id="why-is-pepe-price-rising">Why Is PEPE Price Rising?</h2>
The Pepe Coin price surge comes after the increased activity on the network, leading to a 23% surge in trading volume. The TV is currently at $1.42B and has grown heavily from yesterday’s $714 million value. The increase in trading volume results from increasing trading on <a href="https://coingape.com/cryptocurrency-exchanges/best-crypto-exchange-india/" rel="noopener noreferrer nofollow">crypto exchanges</a>, including OKX and Bitget, which are responsible for trading volumes of $915 Million and $618.
The Open Interest rates, which measure the outstanding derivatives contract, have increased by 4.06%, bringing the value to $140.63 million. This surge is an indication of the increased participation in PEPE futures and options.
Moreover, the crypto market has also experienced a bullish push with the declaration of <a href="https://coingape.com/glossary/consumer-price-index-cpi/" rel="noopener noreferrer nofollow">Consumer Price Index (CPI)</a> data, revealing a drop to 3.3%. A similar drop is also planned for the inflation rate deduction to 2%, but the results are based on today’s <a href="https://coingape.com/trending/fed-meeting-june-2024-why-the-interest-rate-cuts-might-not-happen-at-all/" rel="noopener noreferrer nofollow">FED meeting</a> results. This news has pushed the Bitcoin price to $69,928, along with increasing the Ethereum price to $3637 after a 4.61% and 3.49% surge.
<blockquote>
 The US May Core CPI(YoY) is 3.4%, lower than Forecast (3.5%) and Previous(3.6%).
 And the price of <a rel="noopener noreferrer nofollow" href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a> surged 2.4% after the CPI data was released. <a rel="noopener noreferrer nofollow" href="https://t.co/5iMYxtNjbU">pic.twitter.com/5iMYxtNjbU</a>
 — Lookonchain (@lookonchain) <a rel="noopener noreferrer nofollow" href="https://twitter.com/lookonchain/status/1800874015504085024?ref_src=twsrc%5Etfw">June 12, 2024</a>
</blockquote>
<h3 id="what-is-coming-next-for-pepe-price">What Is Coming Next For PEPE Price?</h3>
As per analysts, PEPE is in the bullish zone because of the <a href="https://coingape.com/glossary/parallel-channel-pattern/" rel="noopener noreferrer nofollow">channel-up pattern</a>, which could push the price even higher. If the trend continues, the PEPE price can surge to a high of $0.000017, after a 50% surge by the month’s end.
The technical factors and moving average also favor the same, as the meme coin is in a strong buy zone because of ‘buy the dip.” Additionally, the <a href="https://coingape.com/glossary/rsi-relative-strength-index/" rel="noopener noreferrer nofollow">Relative Strength Index (RSI)</a> at 6.5 indicates the buying zone, which could lead to further gains.
Continue Reading <a href="https://coingape.com/trending/4-altcoins-to-buy-on-11-june-for-high-returns-this-month/" rel="noopener noreferrer nofollow">4 Altcoins To Buy On 12 June For High Returns This Month</a>
The post <a href="https://coingape.com/trending/pepe-price-rose-12-in-a-day-amid-market-fall-whats-happening/" rel="noopener noreferrer nofollow">PEPE Price Rose 12% In A Day Amid Market Fall: What’s Happening?</a> appeared first on <a href="https://coingape.com" rel="noopener noreferrer nofollow">CoinGape</a>.

PEPE Price Rose 12% In A Day Amid Market Fall: What’s Happening?

Table of Contents

Coingape News Media

Other articles published on Jun 12, 2024

ARPA Network Launches EigenLayer AVS: Enhancing Network Security, Availability and Scalability wi...

Apple Unveils ‘Apple Intelligence’ AI Strategy at WWDC 2024

Strategic Round Complete: PrivateAI Launches PGPT Token to Public Markets

Whales Ditch Arbitrum and Ripple for Staking Rewards with MoonBag

MoonPay and PayPal Integration Now Includes UK and EU customers

Apple Crashes Crypto After Disaster AI Reveal? with Jackie Dutton

Join our free newsletter for daily crypto updates!